Resources Management Corp CT ADV bought a new stake in Duke Energy Corp (NYSE:DUK) in the 3rd quarter, Holdings Channel.com reports. The fund bought 31,324 shares of the utilities provider’s stock, valued at approximately $3,003,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Atwater Malick LLC acquired a new position in Duke Energy in the third quarter valued at about $26,000. Redhawk Wealth Advisors Inc. bought a new position in shares of Duke Energy during the 2nd quarter valued at about $34,000. Ellevest Inc. lifted its holdings in shares of Duke Energy by 334.8% during the 2nd quarter. Ellevest Inc. now owns 400 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 308 shares in the last quarter. Selective Wealth Management Inc. acquired a new position in shares of Duke Energy in the 3rd quarter valued at approximately $36,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Duke Energy in the 3rd quarter valued at approximately $38,000. Institutional investors own 60.21% of the company’s stock.
Several analysts have commented on the stock. Goldman Sachs Group upgraded shares of Duke Energy from a “sell” rating to a “buy” rating and raised their target price for the stock from $88.00 to $93.00 in a report on Wednesday, November 27th. JPMorgan Chase & Co. upped their price target on shares of Duke Energy from $91.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, October 14th. SunTrust Banks lowered their price objective on shares of Duke Energy to $90.00 and set a “hold” rating for the company in a research report on Monday, November 11th. Evercore ISI reaffirmed a “hold” rating and issued a $92.00 price objective on shares of Duke Energy in a research report on Wednesday. Finally, Barclays raised shares of Duke Energy from an “equal weight” rating to an “overweight” rating in a research note on Wednesday, November 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. Duke Energy has a consensus rating of “Hold” and a consensus target price of $93.91.
Duke Energy (NYSE:DUK) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.10. Duke Energy had a net margin of 14.10% and a return on equity of 8.24%. The company had revenue of $6.94 billion during the quarter, compared to analysts’ expectations of $7.24 billion. During the same period last year, the business earned $1.65 EPS. The business’s quarterly revenue was up 4.7% on a year-over-year basis. As a group, equities analysts anticipate that Duke Energy Corp will post 5.01 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 4.25%. The ex-dividend date of this dividend is Thursday, November 14th. Duke Energy’s payout ratio is 80.08%.
About Duke Energy
Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.
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